However, total sales rose 1.4pc to £4.8bn in 2012 as Travis Perkins was boosted by the acquisition of trade retailer Toolstation.

The Travis Perkins chief executive said that improvements in mortgage and housing transactions data could boost the company and its markets later in 2013.

However, he warned: “Whilst there are indications, for the first time in a while, that growth will return to our markets later this year, we anticipate volatile conditions will persist in the short term, further troubling weaker operators.”